15,500 Celebrate National Day at APEC Phu Quoc Construction Site

Key pointsOn National Day 2026, 15,500 technicians and workers celebrated at the APEC construction site in Phu Quoc in a special manner. They sang the national anthem and continued working despite the holiday. The site expressed patriotism through sweat, responsibility, and anticipation for APEC 2027.
Business impactSuch celebrations on National Day can boost worker morale and positively impact project progress. Japanese companies should also respect local culture and holidays while striving to improve the working environment.

Key pointsAirstrikes have resumed between the United States and Iran, causing a sharp increase in oil prices. This has led to a decline in the US stock market and heightened geopolitical risks. As Vietnam imports oil, there are concerns about rising prices and impacts on growth rates, particularly with potential increased investment in energy-related sectors.
Business impactFor Japanese companies, rising oil prices mean increased energy costs and logistics expenses, which could affect manufacturing supply chains. It is essential to monitor market trends and consider appropriate responses.

Key pointsInternational gold prices have fallen to a two-week low due to concerns over rising interest rates. In August, gold prices rose by 10%, marking the largest monthly increase of the year, but short-term expectations of interest rate hikes are diminishing gold's appeal. In the Vietnamese economy, fluctuations in gold prices affect personal asset allocation and investment sentiment. Notably, the decline in gold prices may encourage capital inflows into the stock market; however, rising interest rate concerns could pose headwinds for the stock market.
Business impactFor Japanese companies, fluctuations in exchange rates and financing costs due to interest rate expectations may have indirect effects. Particularly when considering investments in the Vietnamese stock market, it is important to balance gold and dong-denominated assets in asset allocation.

Key pointsAs Vietnam approaches its National Day on September 2, 2026, major transportation infrastructure projects are seeing thousands of engineers and workers on-site, operating in three shifts to expedite construction. The government has made new decisions to ensure the swift implementation of projects leading up to APEC 2027, securing progress and aiming for timely completion.
Business impactFor Japanese companies, the advancement of infrastructure projects directly impacts logistics and supply chains. Careful attention is needed for scheduling and material procurement, especially in areas where construction is taking place.

Key pointsVietnamese aquaculture operators met with the Dutch Ministry of Agriculture, Nature and Food Quality in The Hague. Both countries share the understanding that the future of the aquaculture industry should be measured not by production volume but by responsible production methods. Vietnam aims for approximately 7 million tons of production by 2030, emphasizing environmental protection and efficient resource use. The Dutch side highlighted that sustainable production and technological innovation are key.
Business impactJapanese companies need to pay attention to Vietnam's sustainability efforts in the aquaculture sector and consider business strategies that align with environmental standards and technological innovations. In particular, production methods that prioritize efficient resource use and environmental protection are required.

Key pointsIn Vung Tau, approximately 119,000 tourists enjoyed the beach during a three-day holiday. Notably, around 16,000 visited on the 29th, 55,000 on the 30th, and 48,000 on the 31st. Due to favorable weather and traffic conditions, an increase in tourist numbers is anticipated.
Business impactJapanese companies in the tourism sector need to adjust their services and offerings to meet the changing demand associated with the rising number of tourists. Particularly, with higher occupancy rates in accommodations, effective inventory management is essential.

Key pointsOn the September 2 holiday, many families visited commercial facilities in Ho Chi Minh City, with children's play areas particularly bustling. For instance, at BigFun in Van Hanh Mall, the entrance fee increased from 150,000 VND to 180,000 VND, and around 300 children were reported to visit during the holiday. Additionally, many parents and children enjoyed activities at Gigamall. The demand for dining and shopping also surged, especially with restaurants being crowded during lunch hours.
Business impactThis holiday bustle presents a significant revenue opportunity for commercial facilities. Japanese companies, particularly in retail and food service, may find it worthwhile to reassess their promotional strategies for holidays.

Key pointsThe customs authority in Hai Phong's high-tech zone requested the immigration department to cancel the exit ban on foreign executive Rom Christian, as he is no longer the legal representative. He has not been the legal representative of ITEQ Vietnam since January 25, 2019, and customs determined that the initial notification was inappropriate. Exit bans are generally used as a measure against companies with unpaid taxes, but it is stated that this does not affect ITEQ Vietnam's tax obligations. If the current legal representative is subject to an exit ban, appropriate procedures will be followed.
Business impactThis incident serves as a reminder for Japanese companies about the importance of changes in legal representation and tax management. In particular, neglecting tax-related procedures and information updates could lead to severe measures such as exit bans, necessitating caution.

Key pointsThe expected PER (Price Earnings Ratio) of the Vietnamese stock market, excluding Vingroup, has fallen to 9.1 times, reaching the lowest level in the past five years. This indicates that stock prices are relatively undervalued compared to overall growth expectations for the Vietnamese economy. Investors are closely watching future trends ahead of a potential FTSE upgrade.
Business impactThe decline in PER enhances the overall valuation appeal of the Vietnamese stock market, but attention must be paid to sector-specific differences, particularly in banking and real estate stocks.

Key pointsThe Southern Power Corporation (EVNSPC) has completed a significant power infrastructure project for APEC 2027, activating three major power facilities in August. This has improved the power supply capacity of Phu Quoc Special Economic Zone, laying the groundwork for the APEC Summit. These projects were expedited under a special mechanism approved by the National Assembly.
Business impactThe infrastructure development for APEC 2027 presents new business opportunities for Japanese companies, particularly for those in the energy sector considering operations in Phu Quoc.

Key pointsConsul General Ho An Tuan has been working to invite technology leaders from Silicon Valley to Vietnam during his 3.5-year tenure in San Francisco. He has met with notable figures such as Sam Altman, CEO of OpenAI, and Jensen Huang, CEO of Nvidia, focusing particularly on building relationships with Saeed Amidi, founder of Plug and Play Tech Center. Amidi has successfully supported many startups and raised awareness of Vietnam's technological potential. Diplomatic efforts to enhance the development of Vietnam's technology sector are expected to strengthen in the future.
Business impactJapanese companies should monitor this trend and assess its implications for related transactions, contracts, and local operations.

Key pointsAccording to Vietnam's Road Corporation, traffic volume on 15 highways increased by 60% on the first day of the National Day holiday, yet the traffic system is operating smoothly. On August 28, 262,595 vehicles passed through, and on August 29, 321,776 vehicles were recorded, indicating rising demand. All toll booths are operating 24/7, and the traffic management system remains stable. Traffic volume is expected to further increase in the coming days, prompting operators to enhance technical monitoring.
Business impactJapanese companies need to reassess logistics and business travel plans due to the increase in traffic volume. Particularly, movement between major cities may become challenging, making advance planning and information gathering essential.